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Europe markets open higher; luxury stocks pop on Richemont results, LVMH up 8%
UK economy grew by less-than-expected 0.1% in November; sterling falls U.K. gross domestic product increased by 0.1% in November, according to data published by the Office for National Statistics, below a Reuters forecast for 0.2% economic growth. The British pound extended losses to trade 0.28% down against the U.S. dollar and 0.24% lower against the […]
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EU challenges Chinese brandy tariffs at WTO
HAIKOU, CHINA – DECEMBER 17: People purchase brandies during the 26th China (Hainan) International Winter Trade Fair for Tropical Agricultural Products at Hainan International Convention And Exhibition Center on December 17, 2023 in Haikou, Hainan Province of China. Meng Zhongde | Visual China Group | Getty Images The EU Commission said on Monday it had […]
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One of the world’s richest families plans to create Paris’s next big soccer success
France’s billionaire Arnault family, owners of luxury group LVMH and one of the richest dynasties on the planet, is preparing to secure majority ownership of minor soccer club Paris FC — but sees any sporting turnaround as a long-term aim. Antoine Arnault, son of LVMH CEO and Chairman Bernard Arnault, told CNBC the investment in […]
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Personal luxury goods market to shrink for first time since the 2008 financial crash, research finds
The storefronts of Dolce & Gabbana, Tiffany & Co. and Patek Philippe are seen as people enter Icon Siam, a luxury shopping mall located on the Chao Phraya River, on June 12, 2024 in Bangkok, Thailand. Lauren Decicca | Getty Images News | Getty Images The personal luxury goods market looks set to face its […]
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A new luxury sleeper train is launching in England and Wales — here’s what a trip will cost
LVMH-owned luxury hospitality company Belmond will launch a luxury sleeper train next year that will take travelers through the countryside of England and Wales. The Britannic Explorer will run three itineraries: one to the southwestern county of Cornwall and the other to the opposite end of England through the Lake District of Cumbria in the […]
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China consumer slowdown weighs on U.S. earnings again
People walk at a shopping complex in Chengdu, Sichuan province, China April 13, 2024. Tingshu Wang | Reuters From Apple to Starbucks, U.S. consumer brands are reporting yet another quarter of China sales declines. The falling revenue in what’s been a major market for the U.S. companies comes amid tepid consumer spending in China and […]
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This European island is likened to the Maldives. I stayed for a week – for $1,500
White sand, clear turquoise sea and lush trees swaying in the breeze. This might sound like a description of the Maldives — but it’s actually what I experienced on a recent trip to Italy. Sardinia, the Mediterranean’s second-largest island after Sicily, is sometimes referred to as “the Maldives of Europe” for the beauty of its […]
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Luxury stocks may be a risky China stimulus bet
Chinese consumers have long powered luxury brands to new highs. But with questions surrounding China’s sluggish economy and changing consumer tastes, analysts aren’t so sure whether these shoppers will be able to coax the luxury sector out of its doldrums. The Chinese government’s new stimulus measures announced late September revived interest in the country’s economic […]
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European markets mixed as Germany’s DAX hits record high; Oil and gas stocks down 3%
Oil and gas stocks trade lower after IEA says oil market facing ‘sizeable surplus’ A pump jack in Midland, Texas, US, on Thursday, Oct. 3, 2024. Anthony Prieto | Bloomberg | Getty Images Oil and gas stocks were 3% lower at 9:45 a.m. in London, after the International Energy Agency said the oil market was […]
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CNBC Daily Open: Stocks’ choppiness in October can be an opportunity
A view from the Alaska Bootanical Park, fall, Halloween and harvest season themed version of the Alaska Botanical Park with special displays, inside the Far North Bicentennial Park, Alaska, United States on September 22, 2024. Hasan Akbas | Anadolu | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC […]
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